Meanwhile property prices nationally have increased by 124.7 per cent from their trough in early 2013.

The new report from the CSO also shows that Dublin residential property prices are 7.9 per cent lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 0.1 per cent lower than their May 2007 peak. The total value of transactions filed in July was €1.6 billion. In July 2022, 4,443 dwelling purchases by households at market prices were filed with the Revenue Commissioners, an increase of 16.2 per cent compared with the 3,822 purchases in July 2021. The region outside of Dublin that saw the largest rise in house prices was the West (Galway, Mayo, Roscommon) at 19.1 per cent, while at the other end of the scale, the Mid-West (Clare, Limerick, Tipperary) saw a 12 per cent rise. Outside Dublin, house prices were up by 15.3 per cent and apartment prices rose by 13.4 per cent. The highest house price growth in Dublin was in Fingal at 11.8 per cent, while Dún Laoghaire-Rathdown saw a rise of 9.1 pe cent. In Dublin, house prices increased by 10.5 per cent and apartment prices were up by 9.6 per cent. The national RPPI increased by 13 per cent in the 12 months to July 2022, with prices in Dublin rising by 10.4 per cent and prices outside Dublin up by 15.2 per cent.

READ MORE - Average age of young Irish people moving out of home is 27.9 years READ MORE - Cost of living crisis is now a bigger worry than housing, new survey suggests The RPPI has reached the value of 164.9 points for July 2022, which is 0.8 per cent above its highest level recorded at the peak of the economic boom in April 2007. The RPPI is designed to measure the change in the average level of prices paid by households for residential properties sold in Ireland. The national Residential Property Price Index (RPPI) has exceeded its Celtic Tiger era-peak, new figures released today by Central Statistics Office show (CSO) show.

Violent Peak by Rory Ireland